Gas Insulated Switchgear Market

Gas Insulated Switchgear Industry - Emerging Trends to Fuel the Global Growth

The global gas insulated switchgear market is expected to reach USD 31.6 billion by 2028 from USD 23.8 billion in 2023, at a CAGR of 5.8% during the forecast period. The gas insulated switchgear market is poised for substantial growth during the forecast period, primarily due to the expected strengthening of power distribution infrastructure in response to the growing demand for electricity.

The gas insulated switchgear industry is experiencing several significant trends driven by the demand for expanding energy infrastructure, environmental concerns, and technological advancements.

Emerging trends in the global Gas Insulated Switchgear Market are:

  • Fast Renewable Energy Expansion
  • Emphasis on Environmental Sustainability
  • Digitalization and Integration with Smart Grid
  • Grid Modernization projects
  • Urbanization and Compact Substation Designs
  • Integration of Energy Storage Systems
  • Electrification of Transportation
  • Global Power Infrastructure Expansion

The global gas insulated switchgear industry is poised for continued growth by shifts in energy generation, distribution, and consumption patterns, with a strong emphasis on sustainability, digitalization, and grid modernization.

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Fast Renewable Energy Expansion:

  • The need for GIS is being driven by the growing integration of renewable energy sources, such solar and wind, into the electrical grid.
  • GIS systems are essential for the effective integration of renewable energy sources into the grid since they offer space-constrained metropolitan regions dependable and compact electrical substation solutions.

Emphasis on Environmental Sustainability:

  • The GIS sector is being shaped by environmental sustainability, which is a major factor. Greenhouse gas emissions-reducing GIS solutions, like those without sulfur hexafluoride (SF6), are being developed by manufacturers. Because SF6, which is typically used as an insulating gas in GIS, has a high potential to cause global warming, there is increasing need to discover more ecologically acceptable substitutes.

Digitalization and Integration with Smart Grid:

  • These two trends are changing the GIS environment. In order to provide real-time data monitoring, predictive maintenance, and remote control capabilities, manufacturers are integrating digital sensors, communication networks, and monitoring systems into GIS equipment.
  • Smart GIS systems facilitate the integration of distributed energy resources, improve asset management, and increase grid resilience.

Grid Modernization projects:

  • The adoption of sophisticated GIS solutions is being propelled by grid modernization projects, which are being pushed by aging infrastructure, rising energy demand, and the need for system resilience.
  • In order to improve grid dependability, flexibility, and efficiency, governments and utilities all over the world are investing in modernizing and growing their electrical infrastructure, including substations outfitted with GIS.

Urbanization and Compact Substation Designs:

  • As a result of population expansion and urbanization, there is a growing need for space-efficient and compact substation designs.
  • In metropolitan settings with limited space, GIS systems provide a major advantage over conventional air-insulated switchgear (AIS). Because of its small size and great dependability, GIS equipment is ideal for indoor installations and heavily inhabited locations.

Integration of Energy Storage Systems:

  • The requirement for adaptable and interoperable GIS solutions is being driven by the integration of energy storage systems (ESS) into the electrical grid. Grid stabilization, effective energy management, and the integration of intermittent renewable energy sources are made possible by GIS systems, which offer ESS installations dependable protection and control.
  • Grid stabilization, effective energy management, and the integration of intermittent renewable energy sources are made possible by GIS systems, which offer ESS installations dependable protection and control.

Electrification of Transportation:

  • The need for strong and dependable electrical infrastructure, including GIS, is being driven by the electrification of transportation, which includes electric vehicles (EVs) and electric railways. When it comes to distributing power safely and effectively for train electrification, charging stations, and other transportation-related applications, GIS systems are essential.

Global Power Infrastructure Expansion:

  • The GIS market is experiencing notable growth as a result of the global power infrastructure expansion, especially in emerging economies.
  • In order to support rising energy consumption and industrial activity, there is an increasing need for dependable and efficient electrical infrastructure, including substations equipped with GIS. This demand is being driven by rapid urbanization, industry, and economic development.

Related Reports:

Gas Insulated Switchgear Market by Installation (Indoor, Outdoor), Insulation Type (SF6, SF6 free), Voltage Rating, Configuration (Hybrid, Isolated Phase, Integrated three phase, Compact GIS), End-User and Region - Global Forecast to 2028

Gas Insulated Switchgear Market Size,  Share & Growth Report
Report Code
EP 2784
RI Published ON
5/3/2024
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